net proceeds
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
From 271 U.S. 298 - Henkels v. Sutherland · 1926Most cited · 87 citing opinions
Such securities constitute the statutory 'net proceeds,' and, by the clear import of the statute, claimant's rights in respect of such proceeds are not inferior to his rights in respect of the original property.
United States Code
26 U.S.C. § 149 — in this section
For purposes of subparagraph (A), the term “net proceeds” has the meaning given such term by section 150 but shall not include proceeds used to finance issuance costs and shall not include proceeds necessary to pay interest (during such period) on the bonds which are part of the issue.
26 U.S.C. § 150 — for purposes of this part
The term “net proceeds” means, with respect to any issue, the proceeds of such issue reduced by amounts in a reasonably required reserve or replacement fund.
26 U.S.C. § 7871 — for purposes of this title
The term “net proceeds” has the meaning given such term by section 150(a)(3).
46 U.S.C. § 53306 — in this section
Definitions.—In this section, the terms “net proceeds” and “net indemnity” mean the sum of—
(1) the adjusted basis of the vessel; and
(2) the amount of gain the taxpayer would recognize without regard to this section.